ALWAYS OPEN FOR DISCUSSION - HOW MUCH TO PAY FOR MARKETING?
Realistically how much should you pay?
Before you work with anyone ask a lot of questions.
Get whoever you choose to evidence the work they have carried out and their experience.
Don’t be taken in by all talk – we marketing people are notorious for it.
Get references from people they have worked with, agree the scope of what you want doing and the fees up front.
You should expect a contract, terms and conditions and don’t be too surprised if you are given a document that sets out the expectations from the client. Marketing consultants should be clear about how they will work with you from a communications and project perspective.
Importantly work with someone you like, trust and who communicates well. On fees, well there is always room for negotiation.
It never ceases to amaze me that there is always some surprise when an experienced marketing professional gives a realistic fee – sometimes the charge can be for more than accountants – both are professionals.
Marketing isn’t only “marketing” – it is a function of whether you succeed or fail. Take Trump for example – this man knows how to market himself – we may not like him, but his marketing machine has been extraordinary.
Marketing, undertaken correctly with focus, will build sales, the business and your reputation and yes, there are many who will be cheap but there is a lot in the saying “you pay peanuts and get monkeys”.
If you are looking for marketing direction, strategy and marketing management you will find people who can do both and they are probably the most valuable to the smaller business and indeed to those who have not embraced a marketing department.
These people will have business and strategic experience. They may have worked across a number of industry sectors, have experience of working with agencies and suppliers such as digital, design, PR, communications, print and may well have also actually worked for these types of companies so they have good experience on either side of the fence. They will know about strategy, developing business, marketing planning, implementation and measurement and can demonstrate that they have grown business.
You should be paying £500-£1,500 per day for this, and you are looking for the following type of background:
These are the people who project manage marketing and make it happen – if you are lucky you may get someone who can do both. People like this cost - £300-£500/day
General background experience:
Getting someone who simply executes things like social media posts, read copy and undertake the administrative side of marketing will mean that your marketing doesn’t have strategy and focus, and this is where it generally falls apart.
At the top end of the scale you will find large management consultancies who employ bright graduates but generally people who work to a “model” and don’t have hands on experience of running a business – costs from £2000/day plus.
Larger marketing agencies employ experienced strategists who will work alongside you and manage all your marketing, concepts, campaigns, the lot – costs in the region of £1500/day for this type of expertise from a good agency.
(Photograph Credit – Colin Watts)
© Copyright Astaar Marketing 2019.
All Rights Reserved.